Scrap metal company owner says he scammed customers out of millions

SECAUCUS -- One of the owners of a Secaucus-based scrap metal business has admitted to his role in a roughly 17-year conspiracy to scam customers out of millions of dollars, Acting U.S. Attorney William E. Fitzpatrick announced in a statement.

Craig Cinelli, 47, of Allendale, the minority owner of Cinelli Iron & Metal Co. (CIMCO), pleaded guilty on Thursday to a single count of conspiracy to commit wire fraud.

David Barteck, 53, of Wood-Ridge, who was the former chief financial officer of CIMCO, and Michael A. Valenti III, 43, of Hasbrouck Heights, who was the former senior vice president of sales at CIMCO, pleaded guilty for their roles in the conspiracy earlier this year.

Cinelli's brother, Joseph Cinelli, was arrested and charged in August for his alleged role in the scheme. However, those charges remain pending, the statement said.

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